Itex deploys 67,000 POS terminals to boost Nigeria’s cashless economy

Itex Integrated Services Ltd. says it has deployed over 67,000 Point-of-Sale (POS) terminals to boost cashless economy across Nigeria.

The Managing Director of Itex, Mr Ernest Uduje, said that Itex’s client portfolio spanned 19 African countries where it had deployed POS to merchants, commercial banks, agent network, transnational corporations and governments.

He said that Itex controlled 30 per cent of the approximately 220,000 POS terminals in Nigeria.

He said that since 2005, Itex had continued to pioneer the payment landscape, easing electronic payment and revenue collections of bills, tariffs and airtime across the country.

He said that itex collaborated with the Central Bank of Nigeria (CBN) and the Nigerian Interbank Settlement System (NIBSS) in the initial implementation of an interoperability platform for the successful cashless Nigeria rollout.

L-R: Dr. Frederick Igbinedion, Chairman; Ernest Uduje, MD/CEO, Ibiyemi Okuwoga, Head Sales and Marketing, and, Sanusi Segun, Senior Software Developer, all of Itex Integrated Services Limited during a news briefing to announce the company’s expansion in Lagos.


According to him, during the initial implementation of the cashless Nigeria policy, Itex’s Terminal Application Management System (TAMS) platform supported 150,000 POS terminal deployed nationwide.

”With the Nigerian government’s push for a cashless economy and the payment industry’s shift towards electronic payments, Itex has expanded its service offerings.

”We have expanded our service offerings from payment channels to include PayVice, TAMS, Internet Payment Gateway, Afrimart and Bespoke Services for its clients,” he said.